Teacher Retirement System of Texas Invests $255,000 in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Teacher Retirement System of Texas acquired a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 22,692 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Intech Investment Management LLC boosted its holdings in shares of Alignment Healthcare by 65.1% in the fourth quarter. Intech Investment Management LLC now owns 44,018 shares of the company’s stock worth $495,000 after acquiring an additional 17,350 shares during the period. William Blair Investment Management LLC grew its holdings in Alignment Healthcare by 50.7% during the 4th quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company’s stock valued at $33,442,000 after buying an additional 999,940 shares in the last quarter. Royce & Associates LP increased its position in shares of Alignment Healthcare by 144.3% during the fourth quarter. Royce & Associates LP now owns 781,680 shares of the company’s stock valued at $8,794,000 after buying an additional 461,680 shares during the period. AlphaQuest LLC bought a new stake in shares of Alignment Healthcare during the fourth quarter valued at about $132,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Alignment Healthcare in the fourth quarter worth about $1,769,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Down 2.9 %

Shares of ALHC opened at $18.08 on Wednesday. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $18.92. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a 50 day simple moving average of $15.43 and a two-hundred day simple moving average of $13.11. The firm has a market cap of $3.47 billion, a P/E ratio of -23.48 and a beta of 1.49.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 554,713 shares of Alignment Healthcare stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the transaction, the chief executive officer now owns 4,733,664 shares in the company, valued at approximately $73,513,801.92. The trade was a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert L. Scavo sold 2,864 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the transaction, the insider now directly owns 702,953 shares in the company, valued at $12,575,829.17. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,956,855 shares of company stock worth $30,128,862. 6.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ALHC has been the subject of several recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Piper Sandler raised their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.